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Wells Fargo Owes $55M In Mortgage Late Fee Suit, Jury Says

A New York federal jury on Friday decided Wells Fargo & Co. owes $54.8 million in a class action accusing mortgage companies previously owned by Wells Fargo’s Wachovia Corp. of slapping borrowers with unlawful fees, defendants’ counsel confirmed, although plaintiffs had sought roughly $629 million.

  • Judge Slaps Down HP's 3rd Try At Autonomy Settlement

    A California federal judge on Friday rejected Hewlett Packard Co. shareholders’ third attempt at a settlement in their derivative suit over HP's disastrous $11.1 billion Autonomy Corp. acquisition, ruling the deal’s potential release of claims was still far too broad. 

  • MetLife Poses Potential Stability Threat, Regulators Say

    MetLife Inc. is so big that its collapse or major financial troubles could cause significant damage to the broader economy, justifying the life insurance giant's designation as a systemically important financial institution subject to Federal Reserve oversight, a panel of U.S. regulators said in a report released Friday.

  • Del. Justices Nix Voting Ban On $2.9B C&J Energy-Nabors Deal

    The Delaware Supreme Court on Friday shot down a 30-day injunction barring oil field company C&J Energy Services Inc. from holding a shareholder vote on a proposed $2.9 billion merger with the hydraulic fracturing and well-sealing units of Nabors Industries Ltd., finding numerous problems with the Chancery Court decision.

  • Google Sues Miss. AG For MPAA-Linked 'Campaign Of Threats'

    A day after Google accused the Motion Picture Association of America of orchestrating a secret attack through Mississippi State Attorney General Jim Hood, the search giant formally lodged a suit accusing Hood of carrying out an unlawful “sustained campaign of threats against Google.”

  • EPA Will Treat Coal Ash As Solid Waste In Win For Industry

    The U.S. Environmental Protection Agency said Friday it will regulate coal ash as solid waste rather than the more strictly controlled hazardous waste, a victory for the power industry that frequently recycles the byproduct for building and agricultural uses.